Unemployment Rate in US (4)
-Average workweek for all employees on private NFP decreased by 0.1 hour to 34.1 hours; Manufacturing workweek for all employees decreased by 0.5 hour to 40.0 hours;
-Average hourly earnings of all employees in the private sector decreased by 2 cents, or 0.1 percent, to $22.53
-Temporary help increased +21,000. Employment in temporary help has risen by 379,000 since a recent low in September 2009.
Here are the rest of the highlights from the BLS release:
-Total nonfarm payroll employment declined by 125,000 in June;
-Private-sector payroll employment edged up by 83,000.
-Unemployment rate 9.5%;
-Temporary employees of 2010 Census workers had a drop of -225,000;
Household Survey Data
-Long-term unemployed (jobless for 27 weeks +) was unchanged at 6.8 million. They are 45.5% of unemployed persons
-Civilian labor force participation rate fell by 0.3% to 64.7%
Employment-population ratio, at 58.5%
-Persons employed part time for economic reasons is 8.6 million was down by 525,000 over past 2 months.
The unemployment rate fell but on the other hand employment, average workweek and average earnings all fell. Discouraged workers left the workforce. Not a rosy situation.
-Average hourly earnings of all employees in the private sector decreased by 2 cents, or 0.1 percent, to $22.53
-Temporary help increased +21,000. Employment in temporary help has risen by 379,000 since a recent low in September 2009.
Here are the rest of the highlights from the BLS release:
-Total nonfarm payroll employment declined by 125,000 in June;
-Private-sector payroll employment edged up by 83,000.
-Unemployment rate 9.5%;
-Temporary employees of 2010 Census workers had a drop of -225,000;
Household Survey Data
-Long-term unemployed (jobless for 27 weeks +) was unchanged at 6.8 million. They are 45.5% of unemployed persons
-Civilian labor force participation rate fell by 0.3% to 64.7%
Employment-population ratio, at 58.5%
-Persons employed part time for economic reasons is 8.6 million was down by 525,000 over past 2 months.
The unemployment rate fell but on the other hand employment, average workweek and average earnings all fell. Discouraged workers left the workforce. Not a rosy situation.
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Temporary employees seem to be growing very fast which makes sense given the current economic conditions. At some point those numbers should level off and start to fall as the economy slowly heals demand for goods grows and more steady jobs materialize. It's a case of making the chicken and the egg at the same time. It will be slow going at first but I predict a hyperbolic rise in job growth as the economy gets some traction. All my opinion of course. I'm no expert, which means I'm probably right.
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ooby_dooby: Well, the unemployment rate has been stuck at 9.7% for a while now and what with the artificial boost in jobs created by conducting the census (which occurs every 10 years) coming to an end, it was predicted by every economist of any stature and every talking head on MSNBC that the rate of unemployment would go up a notch to 9.8%. There was virtually no doubt or disagreement about this "fact".
Guess what!
It went down to 9.5%
Not great, but more important than the absolute number is the direction it is going, DOWN!
Another important point I'd like to make is this.
All the high paid "Experts" that you see flapping their collective gums all day on TV can be wrong.
Guess what!
It went down to 9.5%
Not great, but more important than the absolute number is the direction it is going, DOWN!
Another important point I'd like to make is this.
All the high paid "Experts" that you see flapping their collective gums all day on TV can be wrong.
"Experts"------ This thread is Archived ------
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- Democrats destroyed America
- The weird and the random facts around the world
- I'm a 53 YEAR'S YUNG MAN that lives back in the 80s
- Kultur-multur
- men's perspective towards women
- your favorite topic?
- Gal / sdarlagg passed away on April 10, 2024
- Unions support Democrats!
- Why is this shameful?
- wanting beyond need
Guess what!
It went down to 9.5%
Not great, but more important than the absolute number is the direction it is going, DOWN!
Another important point I'd like to make is this.
All the high paid "Experts" that you see flapping their collective gums all day on TV can be wrong.